Given the market turmoil and a possible looming recession when will the next big layoff be at Schwab ?
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I miss TDA. Schwab is too nutty for me.
July 21st. 3-5% headcount
Where did this come from?
Austin operations already moved to Westlake. You have no idea who does what or where they live.
It would make sense to close Austin. We already got a Texas presence not too far away in Westlake. Plus Austin is all low level operations people that you can replace in any location.
Surprised? There's been talk of them closing Austin for at leasst the last year. Baylor is trying to buy it now and wants to make it into a satelite campus. LPL was also gonna buy it at one point but backed out.
Surprised at these rumors hearing Austin office closure. Why did the management even RTO when they had plans to OK. Lose the Austin office?
July 21st. 3-5% headcount reduction. All non client facing.
@182+1jsdh0p4b - I also saw that. With Schwab now affiliated with TruthFi, it should come as no surprise that DOGE would be making a visit. Wouldn't be surprised to see Musk showing up at other locales.
I saw a comment here a while back saying that elon Musk was seen at the Denver campus so if anybody should be worried its denver people not Austin.
We already closed the Austen office.
I do not know if the rumours abput closing Austen are true but if anybody deserves to be out of a job it is them. You can basically blame them for RTO. They abused WFH more than anyody. Whenever anyone on our team needed to get in touch with someone in Austen when we were all at home, they were no where to be found. My director also told me that he had seen reports showing how productivity dropped there lower than anywhere else with people working from home.
Not a contractual issue. UT sent Baylor a cease and desist related to their plans for the campus, something to do with UT having exclusive rights to something in their geology program and Baylor would be infringing on it because the campus is on land that used to be be part of the Pickles Research campus.
My sources are tellling me early October. I've also been told that there's been some issues with the sale of the Austin Campus, contractual stuff they can't agree on with the buyer. Initially they wanted to have everyone out of Aistin end of Q2-26 but looks like it may be longer now.
Bull that there wasn’t one last quarter there was multiple leaders laid off
Offshore account managers are offering free offshore resources for few minths to the MDs... Once they settle down they will start laying off employees. Shame on you offshore!
There was a small layoff last quarter.
Didn’t hear of one last quarter. Small quarterlies have been standard for years. Currently 700 posted opens. Won’t fill all those. By q3 there should be a drop in opens. Q4 would make sense for a cull. Always assume today is the day. Be ready. Have things lined up.
Most toxic workplace I’ve ever experienced. Over ambitious initiatives are making everyone miserable and ready to quit.
Not soon enough